My perspective, as a mostly C++ programmer, is completely different from yours. LSP is great when it works, which unfortunately in my experience is seldom, and it is absolutely key to retaining advanced users. If someone like me, who knows emacs lisp, hates Microsoft and has used emacs for 25 years, is tempted to switch over to VSCode because of its superior C++ IDE tools then surely new programmers will not give Emacs a second look.
Is this not the exact phenomenon I was talking about? You have been able to write C++ for 25 years without Microsoft, but now you've gotten IDE envy and want to switch. Of course LSP will always work best on VS Code, which is the platform it was designed for.
I re-read your comment and yes, I think I ended up confirming your point. However, I do not agree with the conclusion that its not possible or desirable to compete with an IDE, not at all. A functioning LSP, which is completely achievable, will cure mine and probably many other's IDE envy, and that is why I think its a crucial project.